Argentina Bathroom Fittings Market Overview, 2028

Argentina Bathroom Fittings Market Overview, 2028

Actual Market Research 31-12-2022 69 Pages Figures : 5 Tables : 10 Region : South America Country : Colombia Category : Consumer Goods & Services Household Goods

Argentina recently established a regulatory framework that set forth essential quality and safety requirements for sanitary fixtures and accessories thereof that are temporarily or permanently installed. Subject merchandise will be required to comply with basic design, production, and user information requirements, including concerning loads that the fixture must bear as part of its intended use, product resistance and stability, pressure and temperature variations, efficient consumption, proper access to areas that require cleaning and/or maintenance, absence of defects and compliance with technical requirements, appropriate quality and surface finish, compliance with certain environmental provisions, and appropriate disclosures regarding the fixture and its efficient use. Hydros is an Argentine company dedicated to the manufacture and distribution of faucets and bathroom accessories, backed by the Latin Group. He has more than 30 years of experience in the local market and expanding his horizons to other Latin American countries such as Brazil, Mexico, Bolivia, Uruguay, Chile, and Panama. According to the research report, “Argentina Bathroom fittings Market Overview, 2028” published by Bonafide Research, the market is projected to add USD 186.65 million by 2028. The country's growing number of residential and commercial properties, rising population, and emphasis on maintaining hygiene are all contributing to the Argentina Bathroom fittings market's anticipated significant growth in the years to come. These factors are piquing consumers' interest and fueling the nation's rising demand for the product, which is anticipated to benefit the market's potential expansion. The fastest-increasing product categories in the Argentina market are faucets and showers in particular. The cost eventually decreased and the profit margin subsequently improved due to technical advancement and making the market more lucrative. A project which addresses the lack of sanitation in informal settlements across Argentina by installing bathroom and kitchen modules in hundreds of homes has been named a Bronze Award Winner in the 2021 World Habitat Awards. Sanitation is a neglected issue in Argentina, where six million people do not have access to a bathroom inside their homes. Many of these people live in informal settlements where less than 4.8% of the population has access to adequate sanitation. Infection and disease are commonplace and acute diarrhea are one of the leading causes of illness and death in children under five in Argentina. It all started back in 2015, Módulo Sanitario became the first organization in Argentina aiming to tackle this problem at scale by installing prefabricated bathroom and kitchen cabins in people’s homes. The World Habitat Awards Advisory Group judging panel said: “Sanitation is an urgent issue in Argentina, and even more so at the time of the pandemic, this project is important in its efforts to improve the health of vulnerable families.” According to the World Bank, the population of Argentina is around 45.60 million people 22.25 million of whom are men and 23.35 million of whom are women. The majority of the population lies between the age group of 15 to 60. With 92%of the population in urban areas and 8% in rural areas. Argentina's GDP is 511.15 billion us dollars in 2022, and a per capita income of $ 12600 in the year 2022. Consumers’ increased disposable income has also enabled a lavish lifestyle, which encourages the use of upscale bathroom fixtures and accessories, particularly in urban areas. Customers are becoming more interested in paper holders. The hospitality industry, which includes hotels, hospitals, and nursing homes, is the primary driver of this market segment. Toilet paper holders are especially popular in a hotel. Rising construction of smart bathrooms equipped with the latest technologies, rising concerns, awareness about hygiene and health, and growing brand awareness will all contribute to the market's lucrative growth opportunities. Manufacturers will face intense pricing pressure, and fluctuations in raw material prices will pose a significant challenge to market growth. High installation and maintenance costs will further derail the market's growth rate. The lack of a strong distribution network in backward areas, as well as rising concerns about the recycling and disposal of sanitary ware, will further limit the market's potential for growth. Retail enterprises have expanded the offline distribution route. Bathroom fixtures used to only be available at retail stores. These locations assisted customers in making choices from a variety of retail store goods. The rising demand for bathroom fixtures online was a result of suppliers strengthening the security and dependability of their online purchasing processes in response to the greater sales opportunity for these products through online channels. One of the main things preventing market expansion is the lengthy product replacement cycle. Branded, high-quality bathroom and toilet aids like sinks, toilets, shower units, towel rails, and rings and hooks don't need to be changed out all the time. Major bathroom accessory producers also provide warranties and guarantees for their products, which prolongs their lives. As a result, people are less likely to buy bathroom items frequently. Bathroom accessory sales are impacted by the lengthy replacement cycle, which limits the market's expansion. COVID EFFECT Various businesses were affected by COVID-19 in Argentina, including the bathroom fixtures industry. Segments like sanitaryware and bathroom fixtures are largely classified as discretionary spending and have witnessed a deferment of demand due to an unexpected decline in renovation and refurbishment activity in the near term due to the COVID-19 outbreak. However, public health has become an urgent matter in the current climate. The architecture and interior design of bathrooms are taking a fresh look at their foundation. Now, in the context of COVID-19, these spaces could evolve when the current pandemic finally recedes. A new wave of innovations in the bathroom would ensure that it is cleaner, more hygienic, and more comfortable. Considered in this report • Geography: Argentina • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Argentina Bathroom fittings market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product • Faucets • Showers • Others (Towel Rack/Ring, Hook, Grab Bars, Paper Holder, etc.) By Distribution Channel • Offline • Online The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Bathroom fittings industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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